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An Alibaba Push for Yahoo?

By Chart School
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Courtesy of Doug Short.

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

For the past decade this 38% Fibonacci level has been very heavy resistance for Yahoo, stopping its upward progress two different times.

Could the third time be different with the assistance of Alibaba?

Sentiment towards Yahoo by Stocktwits viewers currently stands at 97% bulls. Over the past few months these investors have been spot on with this trade.

A breakout of this resistance line, would have to be viewed as a very bullish event.

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